Investor probes South

How serious is Adelaide businessman Con Makris about investing millions of dollars into South Melbourne to bankroll the club's bid to become part of the new Australian Premier League? Serious enough to call in financial services giant KPMG to conduct a due diligence inquiry on the club's finances.

Like Australian Soccer Association boss and Westfield supremo Frank Lowy, Makris is also a shopping centre and property entrepreneur - but not on the same scale as the Sydney-based soccer chief.

Nevertheless, he comes equipped with a considerable war chest and, with just four weeks left until the ASA's deadline for submissions to be made for entry into the new league, he looks to be the frontrunner - perhaps the only runner - in the race to enter a partnership with the Albert Park club.

"I want to see exactly what the financial picture is, what the turnover of the club is, how big the debts are. Nothing is guaranteed (by his initial inquiries). I have got my accountants from KPMG and my solicitors talking. I am very keen to get involved if the circumstances are right," he said.

Makris is believed to be prepared to commit a seven-figure sum, which would be enough to give him a 76 per cent stake in the club - a clear controlling interest. Members would retain the balance.

He said if it were necessary to get rid of the South Melbourne name and adopt a new one to reposition it in the soccer marketplace, he was prepared to do so: "If we have to change the name, we will have to change."

Makris was previously involved in the now-defunct Adelaide Sharks, where he spent heavily to keep the struggling club afloat, and has put money into the Adelaide Galaxy team in the South Australian State League.

He has ambitious plans to lure former Socceroos back to Australia to play in the APL should he take control of a club in the new nationwide league.

"I am very keen to get involved if the circumstances are right.CON MAKRIS

Meanwhile, former Olyroo goalkeeper Danny Milosevic has re-launched his stalled career by signing a deal that will take him to Scottish champion Celtic for the rest of the season.

Milosevic has been at cash-strapped Leeds for several seasons, although he has rarely figured in the starting line-up. He joins Celtic as back-up to first-choice goalkeeper Rab Douglas, following former No. 1 Magnus Hedman's loan move to struggling Italian Serie A side Ancona.

Hedman, Sweden's first-choice goalkeeper, lost his place to Scotland shot-stopper Douglas and is desperate to play first-team football in the run-up to the European championships.